Hsbc Holdings PLC Takes Position in United Parks & Resorts Inc. $PRKS

Key Points

• Hsbc Holdings PLC has acquired a new stake in United Parks & Resorts Inc., purchasing 140,443 shares valued at approximately $6.2 million, representing 0.26% ownership of the company.
• Multiple institutional investors, including Pinnacle Wealth Management and QRG Capital Management, have also increased their holdings in United Parks & Resorts, reflecting growing interest in the company's stock.
• Analysts have mixed views on the stock, with price targets ranging from $49.00 to $67.00; the consensus rating is currently a "Hold" with a target price of $56.91.

Hsbc Holdings PLC bought a new stake in United Parks & Resorts Inc. (NYSE:PRKS - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 140,443 shares of the company's stock, valued at approximately $6,204,000. Hsbc Holdings PLC owned 0.26% of United Parks & Resorts as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the business. Pinnacle Wealth Management Advisory Group LLC boosted its position in shares of United Parks & Resorts by 7.4% in the first quarter. Pinnacle Wealth Management Advisory Group LLC now owns 4,500 shares of the company's stock valued at $205,000 after acquiring an additional 310 shares during the period. LPL Financial LLC boosted its position in shares of United Parks & Resorts by 7.0% in the fourth quarter. LPL Financial LLC now owns 5,316 shares of the company's stock valued at $299,000 after acquiring an additional 350 shares during the period. QRG Capital Management Inc. boosted its position in shares of United Parks & Resorts by 11.3% in the first quarter. QRG Capital Management Inc. now owns 4,478 shares of the company's stock valued at $204,000 after acquiring an additional 456 shares during the period. Caitong International Asset Management Co. Ltd bought a new stake in shares of United Parks & Resorts in the first quarter valued at about $31,000. Finally, Rhumbline Advisers boosted its position in shares of United Parks & Resorts by 2.5% in the first quarter. Rhumbline Advisers now owns 49,738 shares of the company's stock valued at $2,261,000 after acquiring an additional 1,190 shares during the period.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PRKS shares. JPMorgan Chase & Co. cut their price objective on shares of United Parks & Resorts from $63.00 to $59.00 and set a "neutral" rating for the company in a research report on Tuesday, May 27th. Citigroup upped their price objective on shares of United Parks & Resorts from $50.00 to $55.00 and gave the stock a "neutral" rating in a research report on Friday, August 8th. Guggenheim cut their price objective on shares of United Parks & Resorts from $74.00 to $67.00 and set a "buy" rating for the company in a research report on Thursday, July 17th. Morgan Stanley cut their price objective on shares of United Parks & Resorts from $52.00 to $50.00 and set an "equal weight" rating for the company in a research report on Monday, August 4th. Finally, Barclays cut their price objective on shares of United Parks & Resorts from $50.00 to $49.00 and set an "equal weight" rating for the company in a research report on Friday, July 11th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, United Parks & Resorts presently has an average rating of "Hold" and a consensus price target of $56.91.

United Parks & Resorts Price Performance

United Parks & Resorts stock opened at $52.7140 on Tuesday. The business has a 50 day moving average of $48.77 and a 200-day moving average of $47.41. United Parks & Resorts Inc. has a 1 year low of $37.68 and a 1 year high of $60.83. The company has a market capitalization of $2.90 billion, a P/E ratio of 14.09 and a beta of 1.48.

United Parks & Resorts (NYSE:PRKS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $1.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.76 by ($0.31). United Parks & Resorts had a net margin of 12.39% and a negative return on equity of 47.59%. The firm had revenue of $490.21 million during the quarter, compared to analyst estimates of $505.20 million. During the same period in the prior year, the company earned $1.46 EPS. The business's quarterly revenue was down 1.5% compared to the same quarter last year. Equities analysts anticipate that United Parks & Resorts Inc. will post 3.95 EPS for the current year.

United Parks & Resorts Profile

United Parks & Resorts, Inc is a holding company, which engages in the ownership and operation of theme parks. Its portfolio includes SeaWorld, Busch Gardens, Aquatica, Discovery Cove, Sesame Place, and Sea Rescue. The company was founded in 1959 and is headquartered in Orlando, FL.

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